The Commissioner of Income Tax-8 v. M/s. Hotel Corporation of India Ltd
[Citation -2014-LL-1105-6]
Citation | 2014-LL-1105-6 |
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Appellant Name | The Commissioner of Income Tax-8 |
Respondent Name | M/s. Hotel Corporation of India Ltd. |
Court | HIGH COURT OF BOMBAY |
Relevant Act | Income-tax |
Date of Order | 05/11/2014 |
Assessment Year | 2003-04 |
Judgment | View Judgment |
Keyword Tags | computation of capital gain • incorrect computation • revenue loss |
Bot Summary: | Y ba 2 The Tribunal's order dated 28th March, 2012 records that the reopening of the assessment by the Assessing Officer is wholly om vitiated. The Assessing Officer had made an order called the original assessment order. The Assessee made an additional claim of B Rs.27,92,693/- in the revised return of income whereas the original claim on the renovation expenditure was Rs.76.23 lacs. The Assessing Officer completed the original assessment on the basis of this return of income. Rt ou 3 However, on closure scrutiny of the records, the Tribunal found that the reasons recorded by the Assessing Officer on the point of C incorrect computation of capital gain does not demonstrate as to how the income assessable to tax has escaped assessment. The Assessing Officer in the meanwhile had accepted the explanation of y the Assessee and did not proceed. We find ba that the Tribunal's reasoning from paras 10 to 13 is not vitiated by perversity or any error of law apparent on the face of the record. |